A bill introduced last week, the Labor 2013-14 Budget Savings (Measures No.2) Bill 2015, would impose a 3.25 per cent “efficiency dividend” on universities.

This measure – which would cut almost $1 billion ($970 million) over the forward estimates – was introduced previously to Parliament but not passed by the Senate.

Universities Australia urges the Senate to reject this cut again, and protect the quality of higher education in Australia. That quality is crucial to the success of Australia’s students, employers, the wider community and the national economy.

The re-introduced efficiency dividend is one of a number of cuts to university funding proposed in recent years. We need to move away from serial short-term cuts to a long-term investment strategy.

“As I noted last week, we are on the cusp of a golden moment for innovation in Australia,” said Universities Australia Chief Executive Belinda Robinson.

“It would send the wrong message entirely for Australia to cut university funding at a time when we all need to get behind an ambitious new national agenda for higher education, research and innovation.”

This funding ensures Australia will have the steady stream of world-class graduates that are essential to create and fill the jobs of the future. This is an important part of Australia’s prosperity agenda.